Soviero Asset Management LP Sells 30,000 Shares of Opera Limited (NASDAQ:OPRA)

Soviero Asset Management LP lowered its holdings in Opera Limited (NASDAQ:OPRA - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 310,000 shares of the company's stock after selling 30,000 shares during the period. Opera accounts for 3.7% of Soviero Asset Management LP's investment portfolio, making the stock its 5th biggest position. Soviero Asset Management LP owned about 0.35% of Opera worth $5,871,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Marshall Wace LLP grew its position in shares of Opera by 99.7% in the fourth quarter. Marshall Wace LLP now owns 1,460,201 shares of the company's stock valued at $27,656,000 after purchasing an additional 729,001 shares during the period. Tidal Investments LLC boosted its holdings in Opera by 75.6% in the fourth quarter. Tidal Investments LLC now owns 1,176,565 shares of the company's stock valued at $22,284,000 after acquiring an additional 506,425 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Opera by 7.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 931,594 shares of the company's stock valued at $17,644,000 after acquiring an additional 61,051 shares during the last quarter. Portolan Capital Management LLC boosted its holdings in Opera by 5.1% in the fourth quarter. Portolan Capital Management LLC now owns 748,349 shares of the company's stock valued at $14,174,000 after acquiring an additional 36,529 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in Opera in the fourth quarter valued at $10,646,000. Hedge funds and other institutional investors own 10.21% of the company's stock.

Opera Stock Down 2.6%

Shares of OPRA traded down $0.47 during midday trading on Friday, reaching $17.37. 260,703 shares of the company were exchanged, compared to its average volume of 566,429. The stock has a 50-day moving average price of $16.43 and a 200-day moving average price of $18.04. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 8.82 and a beta of 1.01. Opera Limited has a 1-year low of $10.11 and a 1-year high of $22.50. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01.

Opera (NASDAQ:OPRA - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.01. Opera had a return on equity of 19.22% and a net margin of 39.22%. The company had revenue of $142.72 million for the quarter, compared to analysts' expectations of $132.48 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Research analysts expect that Opera Limited will post 0.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OPRA. Wall Street Zen upgraded Opera from a "hold" rating to a "buy" rating in a report on Saturday. Piper Sandler began coverage on Opera in a report on Wednesday, February 5th. They issued an "overweight" rating and a $25.00 target price on the stock. Lake Street Capital lifted their target price on Opera from $23.00 to $24.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, The Goldman Sachs Group reduced their price objective on Opera from $26.00 to $22.50 and set a "buy" rating on the stock in a research note on Monday, April 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $24.90.

Opera Profile

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers and related products and services in Norway and internationally. The company offers mobile browser products, such as Opera Mini, Opera browser for Android and iOS, and Opera GX for PCs and Mobile; Opera Touch; PC browsers, including Opera for Computers and Opera GX; Apex Football; Opera VPN Pro; and Opera News, an AI-powered personalized news discovery and aggregation service.